MSC WELCOMES MEPC DECISION TO IMPLEMENT SULPHUR CAP IN 2020

MSC fully supports the decision made by the Marine Environment Protection Committee this week, at its 70th session, in London.

We will now closely liaise with the MEPC and our partners in the industry to ensure we have in place all that is required to become fully compliant by 2020.

Mr. Diego Aponte, President and CEO, said: “We fully support the industry’s initiatives to reduce emissions, and, as an individual carrier, we have been making substantial investments in recent years which have brought about significant improvements in our sustainability.”

For a number of years MSC has invested in energy preservation and environment protection through, among its initiatives, an extensive $250 million retrofitting programme. This has seen MSC’s existing containership fleet benefit from new energy efficient propellers and bows considerably reducing emissions. MSC’s newbuilding programme has resulted in equally impressive environmental gains; with 70% of the fleet under 10 years old and featuring market leading G95 engines on its Oscar Class vessels. The 2M alliance also recognized a reduction in emissions of over 10% across our global fleet operations.

“We are, however, mindful of the challenges involved in achieving full compliance, particularly when the industry is facing some exceptionally difficult times.”

MSC estimates additional fuel costs of approximately $2.025billion on an annual basis. Industry estimates suggest overall costs to the container shipping lines will be in the region of $35 to $40billion.

“This amount of money simply cannot be absorbed by MSC, nor any company for that matter. Today, transport costs account for less than 1% of the price consumers see in the stores, so in a global economy, it is necessary for all of us as consumers to contribute to a healthier supply chain.”

MSC Mediterranean Shipping Company S.A. is a privately owned global shipping company founded in 1970 by Gianluigi Aponte. As one of the world’s leading container shipping lines, MSC operates 480 offices across 150 countries worldwide with over 60,000 employees. With access to an integrated network of road, rail and sea transport resources which stretches across the globe, the company prides itself on delivering global service with local knowledge. MSC’s shipping line sails on more than 200 trade routes, calling at over 315 ports.

Any statements and/or information provided in this section or in any press release published into it, is solely for general information purposes. Specifically statements and/or information provided are not meant as and cannot be construed to contain any legally binding offer by or on behalf of MSC that is open for acceptance.